The 2006–07 Euroleague was the 7th season of the professional basketball competition for elite clubs throughout Europe, organised by Euroleague Basketball Company, and it was the 50th season of the premier competition for European men's clubs overall. The season featured 24 competing teams from 13 countries.

Panathinaikos B.C., also known simply as Panathinaikos, currently also known as Panathinaikos AKTOR Athens for sponsorship reasons, is the professional basketball team of the major Athens-based multi-sport club Panathinaikos A.O. It is owned by the billionaire Giannakopoulos family.